Ohio police reject GOP’s pension system overhaul due to teachers’ controversy

COLUMBUS, Ohio (Ohio Capital Journal): Ohio police unions are pushing back against a proposed overhaul of the state’s pension system, particularly rejecting any association with the controversial changes being made to teacher pensions. Republican lawmakers have introduced legislation aimed at reforming Ohio's pension system, including police, firefighters, and teachers, but law enforcement organizations argue that the issues affecting teachers should not be applied to their retirement plans.

The controversy stems from long-standing concerns over the State Teachers Retirement System (STRS), which has faced criticism for investment losses and benefit cuts. Teachers have voiced frustration over reduced cost-of-living adjustments and other financial setbacks. However, Ohio's police unions argue that their pension fund, the Ohio Police & Fire Pension Fund (OP&F), is financially stable and well-managed, unlike STRS.

Police union leaders have expressed concerns that lumping their pension system in with the teacher reforms could jeopardize their benefits and retirement security. They are particularly wary of proposals that would reduce benefits or increase employee contributions, saying such changes are unnecessary for their pension system.

The proposed pension overhaul has sparked a broader debate in Ohio about public-sector retirement funds, with teachers advocating for significant reforms while police and firefighters defend the stability of their own system. Law enforcement groups are urging lawmakers to treat their pension fund separately and avoid making changes that could negatively impact their retirement benefits.

Full article here.